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please give me the Correct Answers!! Thank you so much this is the second part please!! 1 Exercise 9-2A (Algo) Effects of recognizing accrued interest
please give me the Correct Answers!! Thank you so much
this is the second part please!!
1 Exercise 9-2A (Algo) Effects of recognizing accrued interest on financial statements LO 9-1 Bu Darby started Darby Company on January 1. Year 1. The company experienced the following events during its first year of operation 1. Earned $1100 of cash revenue. 2. Borrowed $2.400 cash from the bank 3. Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, issued on September 1, Year 1, had a one-year term and an 8 percent annual interest rate. Required a. What is the amount of interest payable at December 31, Year 1? b. What is the amount of Interest expense In Year 1? c. What is the amount of interest paid in Year 1? d. Use a horizontal statements model to show how each event affects the balance sheet, income statement, and sta ment of cash flows. Indicate whether the event increases or decreases (D) each element of the financial statements. In the Statement of Cash Flows column Classify the cash flows as operating activities (OA). Investing activities (A) or financing activities (FA). Columns for events that have no effect on any of the elements should be left blank. The first transaction has been recorded as an example. Complete this question by entering your answers in the tabs below. Reg A toc Reg What is the amount of interest payable at December 31, Year 17 (Do not round intermediate calculations, Round your answer to the nearest dollar amount.) What is the amount of interest expense in Year 1? (Do not round intermediate calculations. Round your answer to the rearest dollar amount) What is the amount of Interest paid in Year 17 Show b Interest payable Interest expense Amount of cash paid le 1 Exercise 9-2A (Algo) Effects of recognizing accrued interest on financial statements LO 9-1 Bu Darby started Darby Company on January 1. Year 1. The company experienced the following events during its first year of operation 1. Earned $1100 of cash revenue. 2. Borrowed $2.400 cash from the bank 3. Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, issued on September 1, Year 1, had a one-year term and an 8 percent annual interest rate. Required a. What is the amount of interest payable at December 31, Year 1? b. What is the amount of Interest expense In Year 1? c. What is the amount of interest paid in Year 1? d. Use a horizontal statements model to show how each event affects the balance sheet, income statement, and sta ment of cash flows. Indicate whether the event increases or decreases (D) each element of the financial statements. In the Statement of Cash Flows column Classify the cash flows as operating activities (OA). Investing activities (A) or financing activities (FA). Columns for events that have no effect on any of the elements should be left blank. The first transaction has been recorded as an example. Complete this question by entering your answers in the tabs below. Reg A toc Reg What is the amount of interest payable at December 31, Year 17 (Do not round intermediate calculations, Round your answer to the nearest dollar amount.) What is the amount of interest expense in Year 1? (Do not round intermediate calculations. Round your answer to the rearest dollar amount) What is the amount of Interest paid in Year 17 Show b Interest payable Interest expense Amount of cash paid le Complete this question by entering your answers in the tabs below. Hint if Res As Use a horontal statements model to show how each event affects the balance shes, income statement, and statement of cash flows. Indicate whether the event increases (1) ordens (D): the financial statements. In the Statement of Cash Flows column Classify the cash flows as operating activities (OA), investing activities (A) or financing activities (FA). Coumas for events that any of the elements should be lat blank. The first transaction has been recorded as an example (Note: Not all cells will require an inti DARRY COMPANY Horcon fatement Model for Y 1 bron Assets Balance sheet Latitis Notes Payat Income talent Exen Home Sent of Stockholders' Equity Commor Retained Block No 1 OA 2 3. (en AloG Step by Step Solution
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